Commerce and Industry Minister Piyush Goyal said on Saturday that the India-US interim trade agreement will be reassessed and finalised in light of "changed circumstances", speaking to industry chamber PHDCCI in New Delhi.
"Thodi paristhitiyan badli hain, usko abhi madde nazar rakhte hue final hoga," Goyal said of the pact, a framework for which was announced in February. India is seeking lower tariffs for its goods in American markets than those offered to its competitors, he added, without elaborating on the changed circumstances. The shifting US tariff landscape has pushed the first phase of the bilateral trade agreement back into further negotiation.
Greer meeting and wider talks
Earlier this month, Goyal met US Trade Representative Jamieson Greer on the sidelines of the G20 trade ministers' meeting in Milwaukee, where the two sides discussed the pact.
Trade negotiations are also underway with Israel, Chile, the Gulf Cooperation Council and the Russia-led Eurasian Economic Union. Talks with Canada are moving at a faster pace, discussions with the South Africa-led SACU group will start soon, and talks with Mexico are to be launched next week. The trade ministers of the UK and Canada will visit India next week; India and the UK implemented their trade agreement in July, and the UK minister will attend the India-UK Joint Economic and Trade Committee meeting.
Rahul Gandhi remark
Goyal also criticised Congress leader Rahul Gandhi over claims made after an INDIA bloc delegation met President Droupadi Murmu on October 9 and handed over a memorandum on alleged "vote chori". Calling Gandhi's behaviour "objectionable", Goyal said the opposition leader had "insulted the President."
Sources:
The Hindu — India-US trade pact to be finalised keeping changed circumstances in mind
ETV Bharat (PTI) — Goyal on India-US trade pact
"Thodi paristhitiyan badli hain, usko abhi madde nazar rakhte hue final hoga," Goyal said of the pact, a framework for which was announced in February. India is seeking lower tariffs for its goods in American markets than those offered to its competitors, he added, without elaborating on the changed circumstances. The shifting US tariff landscape has pushed the first phase of the bilateral trade agreement back into further negotiation.
Greer meeting and wider talks
Earlier this month, Goyal met US Trade Representative Jamieson Greer on the sidelines of the G20 trade ministers' meeting in Milwaukee, where the two sides discussed the pact.
Trade negotiations are also underway with Israel, Chile, the Gulf Cooperation Council and the Russia-led Eurasian Economic Union. Talks with Canada are moving at a faster pace, discussions with the South Africa-led SACU group will start soon, and talks with Mexico are to be launched next week. The trade ministers of the UK and Canada will visit India next week; India and the UK implemented their trade agreement in July, and the UK minister will attend the India-UK Joint Economic and Trade Committee meeting.
Rahul Gandhi remark
Goyal also criticised Congress leader Rahul Gandhi over claims made after an INDIA bloc delegation met President Droupadi Murmu on October 9 and handed over a memorandum on alleged "vote chori". Calling Gandhi's behaviour "objectionable", Goyal said the opposition leader had "insulted the President."
Sources:
The Hindu — India-US trade pact to be finalised keeping changed circumstances in mind
ETV Bharat (PTI) — Goyal on India-US trade pact
